Discontinued Operations

12 Months Ended

Dec. 30, 2011

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

In 2009, CSX sold the stock of a subsidiary that indirectly owned Greenbrier Hotel Corporation (“GHC” or “The Greenbrier”) to Justice Family Group, LLC (“JFG”) for approximately $21 million in cash.  CSX recognized a gain on the sale of $25 million which included a tax benefit of $3 million in 2009. The gain was calculated using cash proceeds, net book value, deal-related costs incurred and tax benefits. CSX has retained responsibility for certain pre-closing Greenbrier pension obligations.  Additionally in 2009, The Greenbrier recognized a pre-tax operating loss of $17 million or $10 million after tax.

The 2009 transaction is reported as discontinued operations under the subsection Impairment or Disposal of Long-Lived Assets in the ASC.  Therefore, the gain on sale as well as loss from operations is reported as discontinued operations. 

Income statement information:

	Fiscal Year
(Dollars in Millions)	2009
Revenue	$	33
Pre-Tax Income	$	5
Net Loss, After Tax	$	(10	)
Gain on Sale, After Tax	25
Net Income From Discontinued Operations	$	15
Earnings Per Share
From Discontinued Operations, Assuming Dilution	$	0.01